Miniscript Template: 2
Title: 5 Key Time Layered Multisig
Created: 2023-09-115 Key Degrading Multisig
Expanding upon the concept of a 3 key timed multisig, a 5 key timed multisig allows for multiple timelocks to be introduced for additional flexibility.
A timelock can be employed to allow a native 3 of 5 multisig to become 2 of 5, and eventually 1 of 5 for disaster recovery. This can be employed by using a miniscript `tresh()` with seven conditions:
3 Conditions to be satisfied by:
1. Key 1
2. Key 2
3. Key 3
4. Key 4
5. Key 5
6. First timelock (either relative or absolute)
7. Second timelock (either relative or absolute)Suggested Relative Block Height Timelocks:
older(32800) - Halfway point of block height relative timelock (~278 days assuming constant hashrate)
older(65535) - maximum duration of a block height relative timelock (~455 days assuming constant hashrate)
Suggested Relative Epoch Timmelocks:
older(4224680) - Approximate Halfway point of epoch time relative timelock (~180 days, 6 months)
older(4259839) - Maximum duration of an epoch time relative timelock (~388 days)
Below is a reference diagram on how the 5 Key Time Layered Multisig operates across time:

1. 5 Key Time Lock Multisig - Relative Blockheight Timelock
wsh(thresh(3,pk(XPUB1),s:pk(XPUB2),s:pk(XPUB3),s:pk(XPUB4),s:pk(XPUB5),snu:older(100),snu:older(200)))
2. 5 Key Time Lock Multisig - Absolute Blockheight Timelock
wsh(thresh(3,pk(XPUB1),s:pk(XPUB2),s:pk(XPUB3),s:pk(XPUB4),s:pk(XPUB5),snu:after(1694563200),snu:after(1694563200)))
3. 5 Key Time Lock Multisig - Absolute Epochtime Timelock
wsh(thresh(3,pk(XPUB1),s:pk(XPUB2),s:pk(XPUB3),s:pk(XPUB4),s:pk(XPUB5),snu:after(1694563200),snu:after(1694476800)))
4. 5 Key Time Lock Multisig - Relative Epochtime Timelock
wsh(thresh(3,pk(XPUB1),s:pk(XPUB2),s:pk(XPUB3),s:pk(XPUB4),s:pk(XPUB5),snu:older(4194400),snu:older(4194500)))
(To Add Taproot descriptors once Minitapscript is merged into Core)